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Digitales Archiv ZBW – Leibniz-Informationszentrum Wirtschaft ZBW – Leibniz Information Centre for Economics digitales archiv ZBW – Leibniz-Informationszentrum Wirtschaft ZBW – Leibniz Information Centre for Economics Trautvetter, Christoph Book Profitmaximierer oder verantwortungsvolle Vermieter? Provided in Cooperation with: Rosa-Luxemburg-Stiftung, Berlin und Brüssel This Version is available at: http://hdl.handle.net/11159/4510 Kontakt/Contact ZBW – Leibniz-Informationszentrum Wirtschaft/Leibniz Information Centre for Economics Düsternbrooker Weg 120 24105 Kiel (Germany) E-Mail: [email protected] https://www.zbw.eu/econis-archiv/ Standard-Nutzungsbedingungen: Terms of use: Dieses Dokument darf zu eigenen wissenschaftlichen Zwecken This document may be saved and copied for your personal und zum Privatgebrauch gespeichert und kopiert werden. Sie and scholarly purposes. You are not to copy it for public or dürfen dieses Dokument nicht für öffentliche oder kommerzielle commercial purposes, to exhibit the document in public, to Zwecke vervielfältigen, öffentlich ausstellen, aufführen, vertreiben perform, distribute or otherwise use the document in public. If oder anderweitig nutzen. Sofern für das Dokument eine Open- the document is made available under a Creative Commons Content-Lizenz verwendet wurde, so gelten abweichend von diesen Licence you may exercise further usage rights as specified in Nutzungsbedingungen die in der Lizenz gewährten Nutzungsrechte. the licence. Leibniz-Informationszentrum Wirtschaft zbw Leibniz Information Centre for Economics STUDIEN CHRISTOPH TRAUTVETTER UND SOPHIE BONCZYK PROFITMAXIMIERER ODER VERANTWORTUNGSVOLLE VERMIETER? GROSSE IMMOBILIENUNTERNEHMEN MIT MEHR ALS 3.000 WOHNUNGEN IN BERLIN IM PROFIL CHRISTOPH TRAUTVETTER UND SOPHIE BONCZYK PROFITMAXIMIERER ODER VERANTWORTUNGSVOLLE VERMIETER? GROSSE IMMOBILIENUNTERNEHMEN MIT MEHR ALS 3.000 WOHNUNGEN IN BERLIN IM PROFIL Studie im Auftrag der Rosa-Luxemburg-Stiftung und in Kooperation mit der Fraktion DIE LINKE. im Abgeordnetenhaus von Berlin SOPHIE BONCZYK ist Masterstudentin der Wirtschaftsinformatik an der Humboldt-Universität zu Berlin mit Schwerpunkt «Data Analytics». Ihr Interesse am Berliner Immobilienmarkt wurde durch die Neubauplanung am Checkpoint Charlie geweckt, gegen die sie sich in der «Initiative Checkpoint Charlie erhalten» engagiert hat. Dabei konnte sie Einblicke in die verschachtelten Eigentümer- und Beteiligungsstrukturen der Immobilienbranche gewinnen, die nach ihrer Ansicht den gesamtgesellschaftlichen Interessen zuwiderlaufen. CHRISTOPH TRAUTVETTER ist Public-Policy-Experte und Unterstützer des Netzwerks Steuergerechtigkeit. Er arbeitet daran, die Mehrheit der ehrlichen Steuerzahler*innen und Mieter*innen gegen die Minderheit der Steuervermeider*innen, aggressiven Immobilieninvestor*innen und Profiteur*innen von illegitimen Finanz- strömen zu mobilisieren. Er hat unter anderem als forensischer Sonderprüfer für die KPMG AG, im Haushaltaus- schuss des Europaparlaments und als Fellow bei Teach First Deutschland gearbeitet. Christoph Trautvetter hat einen Master of Public Policy von der Hertie School of Governance und einen Bachelor of Arts (Philosophy & Economics) von der Universität Bayreuth. Diese Publikation ist im Arbeitszusammenhang «RLS-Cities – Rebellisch, Links, Solidarisch» der Rosa-Luxemburg-Stiftung entstanden. IMPRESSUM STUDIEN 3/2019; 4., überarbeitete Auflage wird herausgegeben von der Rosa-Luxemburg-Stiftung V. i. S. d. P.: Ulrike Hempel Franz-Mehring-Platz 1 · 10243 Berlin · www.rosalux.de ISSN 2194-2242 · Redaktionsschluss: August 2019 Autor*innen: Sophie Bonczyk und Christoph Trautvetter Redaktion: Gaby Gottwald, DIE LINKE. Mitglied des Abgeordnetenhauses von Berlin, und Stefan Thimmel, Referent für Wohnungs- und Stadtpolitik, Institut für Gesellschaftsanalyse der Rosa-Luxemburg-Stiftung Illustration Titelseite: Frank Ramspott/iStockphoto Lektorat: TEXT-ARBEIT, Berlin Layout/Herstellung: MediaService GmbH Druck und Kommunikation Gedruckt auf Circleoffset Premium White, 100 % Recycling Inhalt INHALT Abbildungs- und Tabellenverzeichnis ��������������������������������������������������������������������������������������������������������������������� 4 Das Wichtigste zusammengefasst ������������������������������������������������������������������������������������������������������������������������� 5 1 Die großen privaten Wohnungsunternehmen in Berlin: die Studienergebnisse im Überblick . 6 1.1 Die Eigentümer ����������������������������������������������������������������������������������������������������������������������������������������������� 6 1.2 Steuern ����������������������������������������������������������������������������������������������������������������������������������������������������������� 6 1.3 Wohnungen in Berlin . 7 1.4 Geschäftspraktiken ����������������������������������������������������������������������������������������������������������������������������������������� 7 1.4.1 Mieten und Mieterhöhungen ����������������������������������������������������������������������������������������������������������������������� 9 1.4.2 Modernisierung, Instandhaltung und Neubau. 9 1.4.3 Geschäftsführergehälter als Näherungswert für Effizienz und Renditeorientierung ����������������������������������� 10 1.5 Renditen ������������������������������������������������������������������������������������������������������������������������������������������������������� 10 2 Die einzelnen Immobilienunternehmen im Profil. 11 2.1 Deutsche Wohnen SE ����������������������������������������������������������������������������������������������������������������������������������� 11 2.2 Vonovia SE. 12 2.3 ADO Properties SA. 14 2.4 Covivio SA/SE ����������������������������������������������������������������������������������������������������������������������������������������������� 15 2.5 Akelius . 16 2.6 TAG Immobilien AG ��������������������������������������������������������������������������������������������������������������������������������������� 18 2.7 Grand City Properties SA ������������������������������������������������������������������������������������������������������������������������������� 19 2.8 BGP Gruppe/BGP Investment SARL. 20 2.9 Pears Global Real Estate. 21 2.10 Hilfswerk-Siedlung GmbH (HWS) ��������������������������������������������������������������������������������������������������������������� 22 2.11 IMW Immobilien SE/Gropiuswohnen. 23 2.12 DVI. 25 3 Andere Investoren auf dem finanzialisierten Wohnungsmarkt ������������������������������������������������������������������������� 26 Linksammlung ����������������������������������������������������������������������������������������������������������������������������������������������������� 27 Weitere Hintergrundinformationen zum Thema ��������������������������������������������������������������������������������������������������� 27 abbIldungs- und tabellenverzeIchnIs ABBILDUNGS- UND TABELLENVERZEICHNIS Tabelle 1 – Übersicht: Anteilseigner. 6 Tabelle 2 – Übersicht: Steuern. 7 Tabelle 3 – Übersicht: Wohnungen in Berlin und aktueller Wert ����������������������������������������������������������������������������� 8 Tabelle 4 – Übersicht: Mieten und Mieterhöhungen . 8 Abbildung 1 – Einnahmen und Ausgaben großer Immobilienunternehmen in Berlin ��������������������������������������������� 9 Tabelle 5 – Übersicht: Modernisierung und Instandhaltung. 10 Tabelle 6 – Übersicht: Geschäftsführergehälter. 10 Tabelle 7 – Übersicht: Renditen aus Sicht der Aktionäre ��������������������������������������������������������������������������������������� 10 Tabelle 8 – Deutsche Wohnen: Dividende und Wertentwicklung (2011–2018) ����������������������������������������������������� 12 Tabelle 9 – Vonovia: Dividende und Wertentwicklung (2013–2018). 13 Tabelle 10 – ADO: Dividende und Wertentwicklung (2015–2018) . 15 Tabelle 11 – Covivio: Dividende und Wertsteigerung (2012–2018) ����������������������������������������������������������������������� 16 Tabelle 12 – Akelius: Dividende (2015–2018). 18 Tabelle 13 – TAG: Dividende und Wertsteigerung (2011–2018) . 19 Tabelle 14 – Grand City: Dividende und Wertsteigerung (2014–2018) . 20 Abbildung 2 – Wohnungen der HWS bundesweit. 23 Tabelle 15 – HWS: Mietentwicklung (2013–2017). 23 Tabelle 16 – IMW: Wegfall der Preisbindung (2007–2014) ����������������������������������������������������������������������������������� 24 Abbildung 3 – Wem gehören die Wohnungen in Berlin. 26 Tabelle 17 – Übersicht über weitere Unternehmen mit größerem Immobilienbestand in Berlin. 26 4 das WIchtIgste zusammengefasst DAS WICHTIGSTE ZUSAMMENGEFASST Diese Kurzstudie liefert Hintergrundinformationen zu zusammen 65 Prozent der rund 250.000 untersuch- den Eigentümern und den Geschäftspraktiken der Un- ten Wohnungen und acht Prozent des Berliner Woh- ternehmen, die in Berlin mehr als 3.000 Wohnungen nungsmarkts. In der Phase explodierender Kaufprei- besitzen und damit von dem Volksentscheid «Deut- se seit 2012 sind vor allem die Großen noch einmal sche Wohnen & Co. enteignen» betroffen wären. Die sehr viel größer geworden (plus 150.000 Wohnun- Informationen stammen ausschließlich aus öffentlich gen). Meistens zahlten sie für die neu erworbenen verfügbaren Quellen – vor allem aus Jahresabschlüs- Wohnungen rund 1.000 Euro pro Quadratmeter. sen, Firmenregistern und Internetportalen – und erhe- Fünf Jahre später hat sich deren Wert nach den inter- ben keinen Anspruch auf Vollständigkeit. Sie enthalten nen Wertgutachten mit knapp 2.500 Euro pro Qua- unter anderem die folgenden Erkenntnisse für die wei-
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